Berlin-based Signa Sports United announced the acquisition of a majority stake in Midwest Sports, the Ohio-based online tennis retailer.
The transaction, which is still subject to customary closing conditions, represents Signa Sports United’s first substantial business operations in the United States and further strengthens its subsidiary Tennis-Point. Signa’s technology platform operates e-commerce brands in the bike, tennis, outdoor, and team sports verticals across Europe. It runs more than 80 webshops in 17 countries on its platform, with over 4 million active customers a year and 300 million visitors annually. Brands working Signa Sports United include Fahrrad.de, Bikester, Probikeshop, Campz, Addnature, Tennis-Point, Outfitter, and Stylefile.
Signa Sports United said the acquisition of Midwest Sports is complementary and serves as the entry point into the U.S. market for Tennis-Point, Signa Sports United’s tennis platform. Tennis-Point plays a central role in the global tennis community connecting federations, clubs, brands and consumers.
Midwest Sports Co-Founder and President Greg Wolf founded Midwest Sports with his brother more than twenty years ago. Although only operating in the U.S., Midwest Sports is among the largest online tennis retailers in the world, one of the top three online tennis retailers in the U.S. and the official retail sponsor of the Western & Southern Open.
Tennis-Point, which is the exclusive global online retail partner of the International Tennis Federation (ITF), will use Midwest Sports to position itself as a world-leading tennis platform and replicate its European strategy in the U.S.
Stephan Zoll, CEO of Signa Sports United, said: “Midwest Sports has been a true American success story since its beginning. It is amazing, how Greg and his team self-built their company into what it is today. The U.S. tennis market is huge. We are thrilled to start acting directly as a major player in this market, building on Greg’s work and our experience in Europe. This is an important milestone on our path to successfully expand our sports platform across the globe.”
Midwest Sports’ Wolf said, “We are grateful to Signa Sports United for their interest and belief in our company and view our partnership as an important milestone for our business. I am confident that Signa Sports United will add significant value to our company and that together we will be able to fuel further innovation in the tennis e-commerce ecosystem.”
Christian Miele, founder and president of Tennis-Point, said, “It is incredibly remarkable that Midwest Sports now becomes part of Signa Sports United’s tennis group and Greg Wolf will join the Signa Sports United team. The U.S. tennis market is the most important in the world, and I am looking forward to leaving footprints together with Greg in this exciting market.”
Photo courtesy Getty